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GOLD 4H / Another Correction to 2484Gold Future Slip But Holds Near Record Highs on Dollar Weakness Technical Analysis: Gold Current Outlook: The price has retreated from the resistance level at 2,526 and continues to trade below this key line. Bullish Scenario: Stability above 2509 will try to get 2516 and 2526. For the next bullish trend to begin, gold must break through 2,525, which could lead to a rally toward 2,543 and potentially 2,558. Bearish Scenario: While the overall bearish trend is distant, a strong correction could occur, driving the price down to 2,484 or 2,475. However, especially stability under 2509 or 2516 Key Levels: Pivot Line: 2,509 Resistance Levels: 2516, 2526, 2543 Support Levels: 2500, 2484, 2475 Expected Trading Range Today: The price is expected to fluctuate between 2,526 and 2,484. Trend: Bearish correction
OANDA:XAUUSDShort
by SroshMayi
XAUUSD - 4H Gold’s Potential DownturnOANDA:XAUUSD has recently surged to the top of its ascending channel, reaching above the $2,500 level. This move, however, appears to be a liquidity hunt, where the market triggers stops above significant levels before reversing direction. After this liquidity grab, technical analysis suggests a strong possibility of gold retracing within the ascending channel. Fundamentally, several factors are contributing to the potential downside. The recent easing of tensions in the Israel-Palestine conflict has reduced demand for safe-haven assets like gold. Additionally, the de-escalation in geopolitical risks generally leads to a pullback in gold prices as investors shift towards riskier assets. Moreover, the broader market sentiment is leaning towards a stronger dollar, especially with expectations of continued monetary tightening by central banks, which could also pressure gold prices downward. Given these technical and fundamental factors, gold is likely to face a correction back within the channel, with potential support levels around $2,350-$2,400. This retracement would align with the overall market dynamics and investor sentiment shifting away from gold.
FX:XAUUSDShort
by Sober_Trading
7
Buy Gold (Xau/Usd) Bullish ChannelThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a well-defined Bullish Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 2516, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2551 2nd Support – 2573 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
OANDA:XAUUSDLong
by KABHI_FOREX_TRADING
1
GOLD Pre\Post Analysis | Closing w\ $648.00 USD Profit TodayI do believe gold is going to continue to buy. As much as I know traders are interested in selling at the high, I don't think it is that probable to take that trade and the more you think of every trade in terms of probability, it saves you from taking some really shit trades, honestly. Would you take a bet that you are either A. unsure you can win or B. know you will lose? Of course not, so why is it you take trades like that? Take smarter trades.
OANDA:XAUUSDLong
by Brandon_evo4
This Rising Wedge can lead the gold price to 2275(08/20/2024)GOLD is moving upward unstoppable. just a glimpse on the chart shows the price is going higher and higher. by looking at the gold chart we can easily identify the Rising wedge pattern. So are we going to sell gold? no. not right now, we need confirmation. For now, we will stay out and watch. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
OANDA:XAUUSDShort
by fortunamarkets
Gold can turn around and drop to support line of wedgeHello traders, I want share with you my opinion about Gold. Observing the chart, we can see that the price some days ago entered to upward channel, where in a short time rose to the support level, which coincided with the buyer zone and broke it. After this movement, the price reached the current support level and broke it too, thereby exiting from the upward channel as well. But soon, Gold turned around and in a short time declined until to the 2365 support level, breaking the 2445 level one more time. Then the price bounced and quickly rose back and even entered to wedge, where it made an impulse down from the resistance line to the support line of this pattern. When XAU fell to the support line, it started to grow to the current support level and after it reached this level, the price broke it one more time. Next, the price continued to move up and reached the resistance line of the wedge. A not long time ago, Gold exited from this pattern and now I think that XAU can rise a little and then drop to support line of the wedge, making a fake breakout of this pattern. For this case, I set my TP at 2475 points, which coincided with this line. Please share this idea with your friends and click Boost 🚀
FOREXCOM:XAUUSDShort
by LegionQ8
4
Gold Futures Hit Record High on Fed Rate-Cut HopesGold Futures Hit New Record on Rate-Cut Speculation and Central Bank Demand Rising expectations that the U.S. Federal Reserve will ease monetary policy have driven gold prices to new highs. Prospects of rate cuts and expanded quantitative easing have boosted safe-haven demand for gold, while a weaker U.S. dollar has increased its appeal to both domestic and international investors. The CME FedWatch tool shows a 24.5% chance of a 50 basis-point rate cut in September and a 75.5% probability of a 25 basis-point cut, making gold more attractive as a non-interest-bearing asset. Technical Analysis: Gold Current Outlook: The price has reached the level mentioned yesterday, with a break above 2,525 potentially leading to a new all-time high (ATH) at 2,558. Bullish Scenario: A break above 2,525 would trigger the next bullish wave, with targets at 2,543 and 2,558. Bearish Scenario: While the bearish trend appears distant, a correction toward 2,509 or 2,500 is possible before the bullish trend resumes, provided the price remains above 2,475. Key Levels: Pivot Line: 2,525 Resistance Levels: 2543, 2558, 2567 Support Levels: 2510, 2500, 2484 Today's Expected Trading Range: The price is expected to fluctuate between 2,500 and 2,558. Note: A 1-hour or 4-hour candle close above 2,525 could signal a strong bullish move towards 2,558. Be cautious of potential volatility.
OANDA:XAUUSD
by SroshMayi
1
GOLD will rise by +300% in only 3 years! (Better than Bitcoin)I am pretty confident that GOLD will rise by +300% in price in only 3 years! Is gold a better investment than Bitcoin at this moment? Should you sell BTC and buy GOLD? Definitely yes, and I will tell you why! Gold was in a sideways consolidation period from 2011 to 2024. And this year, in March 2024, the price finally made a strong breakout bullish candle on the monthly chart that changed everything! The big players have a lot of liquidity and then cannot move large amounts of money from one asset class to another with a single order. Also, for them, it's not best to buy all assets at the same time. In 2024, we see that big players are hugely interested in gold again, so this should be your main focus. Why can Gold go 300% in 3 years and Bitcoin cannot? That would be around 210,000 USD per Bitcoin in 2027, and we know that this is impossible to happen as Bitcoin is statistically dropping every third year by 70% - 90%. Of course, big players are using this high volatility to buy cheap Bitcoin and to force retail investors to sell in a huge loss. They will do it again, as it's extremely profitable for them. Most likely, the price of Bitcoin in 2027 will be below 70k! From a technical perspective, on the monthly chart we can see that the price of GOLD is inside this ascending parallel channel (since the year 2000). The probability of touching the top of the ascending channel is very high at this moment. From the Elliott Wave perspective, gold is starting an impulse wave (3)! Usually, waves 3 are the strongest! Another indication that huge news is coming for GOLD.  Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Editors' picks
OANDA:XAUUSDLong
by Xanrox
103
Sleeping Giant Awakes: Gold's Path to $2,800If you haven`t bought Gold before the previous breakout: Now I am optimistic that GOLD is on the cusp of reaching a new all-time high, with a target of $2,800 by year's end, driven by a significant breakout. The bullish sentiment is clearly reflected in the options chain for major gold miners! Provided that gold maintains its position above the crucial support level of $2,428, the bullish trajectory remains intact. We foresee gold not only surpassing its historical high of $2,483 in the near future but also advancing to $2,800. After lying dormant for many years, this sleeping giant appears ready to awaken and exhibit remarkable growth.
COMEX:GC1!Long
by TopgOptions
1
XAUUSD 19/8/24Our gold chart this week shows that price action is moving to the upside, as we expected. We reached our high time frame target from last week, which was a new all-time high for gold. We’re now looking for price action to create significant liquidity to the upside to push for another all-time high. If a pullback occurs and price moves lower, we will begin focusing on the current trajectory, which could lead us into the highlighted areas of demand below. One area is within the lower 50% of the current short-term range, and the other is within the lower 50% of our overall swing range. If price hits these areas and pushes higher, we will, of course, look for overall longs to continue with the higher time frame trend. We expect the trend to continue with relative strength, but if a sell-off starts, we can look at the areas of supply left behind. If the current trajectory breaks, there is potential for a short-term sell-off, but we remain overall bullish on this pair. Please note that we only have one high time frame target for now, as gold is at a new all-time high. If price begins to sell off, don’t become attached to your bias. Remember, the higher time frame is bullish. Trade safely, stick to your risk management, and follow your rules.
OANDA:XAUUSD
by rosshayes
GOLD - Price bounce up from support area to $2530 pointsHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Recently price rising near support line and when it reached $2474 points, it made downward impulse. Gold broke support line and then $2415 level too, but also price entered to wedge, where it fell firstly to support line. After this, price bounced and rose to support level, after which made correction to support line and then bounced up again. Price broke $2415 level and soon reached $2475 level, and then it some time traded near, after which fell below. Next, price made upward impulse, thereby breaking $2475 level and exiting from wedge, but soon turned around. Now, I think that Gold can fall to support area, which coincides with support level, and then bounce up to $2530 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDLong
by WalterMoon
3
HelenP. I Gold will make correction movement, after impulse upHi folks today I'm prepared for you Gold analytics. Some time ago price declined to the trend line and at once rebounded and quickly rose to support 2, which coincided with the support zone. Soon, XAU broke this level and then made impulse up to support 1, which coincided with one more support zone, but when it entered to this area, it at once turned around and dropped to the trend line. Then the price broke this line and fell to the support zone, after which turned around and rebounded up higher than the trend line to support 1. But later, the price dropped back, breaking the trend line one more time, after which it almost declined to support 2 and then started to grow. In a short time, the price rose to support 1, broke it and some time traded inside the support zone, but then fell a little below. A not long time ago Gold repeated movement up, broke the support level again, and the trend line later too. At the moment, I expect that XAUUSD will rise a little more and then make a correction movement to the support level, breaking the trend line again. For this case, my goal is a 2465 support level. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
4
$XAUUSD $GOLD $2,540 PLAUSABLE BY END OF WEEK (23Aug2024)Since the 1st of April 2024, TVC:GOLD has formed a clear bullish channel with a highly probable eventful price action week to the few hours after FED Chairman Powell's speech on Friday. I believe a suggestion of an emergency FED rate cut outside schedule propels TVC:GOLD to between $2,525 and $2,540. This of course is dependent on the size of retracement in the earlier days of this week. 12th to 16th August was a bullish week that saw TVC:GOLD reach an ATH above a psychological mark of $2,500. In the absence of clear increased and unpriced geopolitical risk(s), I expect some retracement within the accelerated channel from 12th Aug (white channel). The accelerated bullish channel (white) and the longer term bullish channel (pink) provide a great tier of support levels to use as risk indicators against the bullish trade. 1. The 1st support level will be $2,483 as it coincides with the high of day's trades for 17th July and coincides with the progressive mean for the accelerated channel for last week's trades on the yellow metal. The yellow dashed line shows the first level a retracement can breach against opposing the long positions this week. This will probably come as early as the Asian trades in a few hours. I will still hold if a position was opened in fear of a huge event over the weekend. I opened a smaller than normal position near Friday's closing bell. 2. The slightly more significant area for me will be the $2,464 - $2,472 price range on a daily candle. Any close in this range between Monday and Tuesday together with Volume profile analysis should indicate strong selling pressure (amber range). This will be the last level I would add to my position (but on the small side as the probability to hit $2,525 - $2,540 would need more certainty of an event driving the price's momentum. 3. If on the Day candle we hit the red-pink zone, then an event driven momentum could only see us hitting sub $2,530 but for me sellers would have significantly dented my expectations for the week. LET"S GO FOR THE GREEN DOT OR HIGHER. GOOD LUCK 4. Touching $2,429 or under before or Wednesday on any timeframe is significant even for the bullish channel started 1st April. This will be its rising mean and crossing under is some seller strength in the arm wrestle for $GOLD.
CAPITALCOM:GOLDLong
by Cha-Zee-ZESA
GOLD - Price can break support level and make correction moveHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊 Some time ago price entered to rising channel, where it at once fell almost to support line and then continued to grow. In a short time price reached $2355 level, broke it, and continued to move up to resistance line of channel. Then price left this channel, made fake breakout of $2465 level, and made correction movement to $2355 level. Next, Gold started to grow another rising channel, where it later reached $2465 level, but at once made correction. Soon, price turned around and rose back, even breaking $2465 level, and now it trades inside resistance area. In my mind, Gold can rise a little higher than resistance area and then make a correction to $2415 If this post is useful to you, you can support me with like/boost and advice in comments❤️
OANDA:XAUUSDShort
by WalterMoon
4